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Alan Green discusses Tiziana Life #TILS, BigDish #DISH and Tertiary Minerals #TYM on the Vox Markets podcast

Alan Green discusses Tiziana Life Sciences (AIM: TILS, Nasdaq: TLSA), BigDish (AIM: DISH) and Tertiary Minerals (AIM: TYM) on the Vox Markets podcast. The interview is 7 minutes 50 seconds in.

Tertiary Minerals plc (TYM) Paymaster Polymetallic Project Update

Further to the Company’s announcements of 21 February 2019 and 30 May 2019, Tertiary Minerals plc is pleased to advise that initial follow-up field reconnaissance of soil anomalies at its recently acquired Paymaster Polymetallic Project in Nevada has identified two zones of zinc-silver mineralisation for follow-up exploration and drilling. 

Highlights: 

Valley Prospect

  • New thick skarn zone observed in the field: Approximately 350m long and up to 8m thick
  • Rock sample taken from historic shaft spoil assayed 7.5% zinc, 4.3% lead and 180g/t silver

East Slope Prospect

  • 650m long zinc soil anomaly (100-250 ppm zinc) surrounding previously sampled outcrop of zinc-silver cobalt bearing skarn mineralisation, including 175m long 250-500 ppm zinc soil anomaly
  • Previous rock sample assays up to 20.9% zinc, 0.11% cobalt and 198 ppm silver within the prospect
  • Infill soil sampling and trenching proposed to better define drill target

Additional soil anomalies require further evaluation

Richard Clemmey, Managing Director of the Company, commented today: 

“We are pleased to be reporting these two new targets as a result of follow up of our soil sampling results at the Paymaster Project and to be closing in on drill targets at such an early stage in the life of the project. This follows on from our recent acquisition of the Pyramid Gold Project, also in Nevada, where drill targets for gold are already defined.

These results demonstrate how value can be added at low cost as we build up a new portfolio of base and precious metal projects in the western USA.”

 

Enquiries
Tertiary Minerals plcRichard Clemmey, Managing DirectorPatrick Cheetham, Chairman  
+44 (0) 1625 838 679             
SP Angel Corporate Finance LLP

Nominated Adviser & Joint Broker 

Lindsay Mair/Caroline Rowe

+44 (0) 203 470 0470
SVS Securities plc

Joint Broker

Elliot Hance

+44 (0) 203 700 0093

 

Gold Keeps Climbing – Mining Beacon

Mining Beacon April 17 2019

Recent research reports from S&P Global Market Intelligence highlight record gold production in 2018, and outline some of the reasons for the increased appetite for gold mergers and acquisitions.

Global gold production increased in 2018 for the 10th consecutive year to reach a total of 107.3 Moz, according to a recent report from S&P Global Market Intelligence (SPGMI). As signaled in the recent HindeSight bog, although the year-over-year increase of just under 1% was the smallest in the past decade, output of the precious metal has now risen 40% since 2008.

SPGMI forecasts further growth, of 2.3 Moz, this year. If so, it will be the strongest growth of the past three years. As the report’s author, Chris Galbraith, wrote; it will debunk the commentary of “peak gold”.

Looking at the current project pipeline, and without large-scale moves in the gold price or any speculative estimates on additions through exploration activity, SPGMI expects gold output to stay steady until 2022 and decline thereafter. Indeed, more than 15% of gold production by 2024 will be coming from mines that are not yet producing.

More than half of this year’s increase is projected to come from mines that are expected to come on stream in 2019. Examples of those include the Gruyere JV in Western Australia (Gold Fields Ltd and Gold Road Resources Ltd), Meliadine in Nunavut (Agnico Eagle Mines Ltd), Sigma-Lamaque in Quebec (Eldorado Gold Corp.), and the restarted operations at Obuasi in Ghana (AngloGold Ashanti Ltd) and Aurizona in Brazil (Equinox Gold Corp.), both of which have been idle since 2015.

SPGMI notes that the ramp-up at PJSC Polyus’s Natalka operation and commissioning at Nord Gold SE’s Gross mine are significant contributors to a continued increase in Russia’s gold production. The country’s production is expected to equal Australia’s gold output in 2020, and then surpass it. In Canada, the startup of Meliadine and continued ramp-up of Rainy River, Eleonore and Hope Bay, among others, will drive amongst the fastest national growth over the next few years. This year, Canada is projected to pass the US in national gold production to become the fourth-largest gold producing country.

Although SPGMI expects global production to start declining after 2022, not all jurisdictions will have shrinking production. Of the 99 gold-producing countries monitored, 49 are expected to produce less in 2024 compared with 2018, 27 to produce more and 23 are expected to maintain production.

Australia’s production is expected to fall the most. The current second-largest gold producing nation, behind China, is expected to fall to fourth place globally by 2024. The underlying reason for Australia’s fall is the depletion of several long-lived assets, such as St Ives, Paddington, Telfer, Edna May, Southern Cross and Agnew/Lawlers. The expected commissioning of Mt Todd and reactivation of Union Reefs Operations Centre will only partly mitigate the loss from existing operations.

Although Indonesia’s gold production will be substantially lower in 2024 than it was last year, the country’s production in 2018 was anomalously high primarily due to the unusually large output at Grasberg. Peru’s production, however, is clearly trending downward, with Orcopampa, La Zanja and Tambomayo all facing depletion before 2024. With closure only a few years further out, SPGMI notes that Lagunas Norte and Yanacocha will also be producing far less gold in 2024 than they have historically.

Grades are Key

From 2014 through 2018, ore throughput at primary gold mines rose 1.2% but the weighted-average gold grade increased 4.5%. As a result, gold production from primary gold mines increased by 6% during the period.

The increase in grade is projected to continue through 2020 but in 2021 SPGMI expects ore throughput to remain steady and grade to fall by 2% year over year. These two factors are expected to account for around 1.6 Moz in reduced production. By 2024, around 241 Mt less ore is expected to be fed through gold mills compared with 2019, while the gold grade will be almost 2% higher overall. Owing to that drop in throughput, the related drop in production from primary gold mines will be almost 9 Moz.

SPGMI estimates that 11% of global gold production came from polymetallic base metal mines in 2018. Gold production from those mines will fall this year and in 2020 but the share from polymetallic mines is expected to increase gradually thereafter. With falling production from primary gold mines after 2020, and minor increases from polymetallic mines, a growing share of the world’s gold production will come from sources where gold is a byproduct. Less than 10% of the world’s production is expected to come from secondary sources in 2020, but this amount is expected to grow to more than 11% again by 2024.

Reason for Gold M&A

In a separate SPGMI article on April 3, Richard Foy commented that the market capitalisation of gold-mining companies has halved since 2012. This devaluation, and a recent push for consolidation, has increased M&A activity, with majors capitalising on the reduction in enterprise value (EV) in 2018.

Recent M&A deals have reflected this theme as companies look to unlock synergistic cost savings. This has seen gold production remain relatively constant among the top 30 listed gold-mining equities between 2014 and 2018, at about 43 Moz/y, with a 3% increase expected in 2019. The consensus earnings margin outlook of 30% for gold-mining equities is supported by SPGMI’s view on 2019 all-in sustaining cost margins at 33%.

In 2019, the ratio of the EV to EBITDA of the 30 largest gold miners is expected to go below 7.0 for the first time in six years, according to SPGMI. This is the result of a modest decline in EV (due to declining net debt offsetting a rise in market capitalisation) along with an expected increase in earnings. This drop in the ratio could explain the heightened M&A activity among the gold majors.

Nevada’s Walker Lane Gold Trend Ripe for Discovery – Gold Investing News – Tertiary Minerals #TYM

Some of the world’s most important gold mining districts are found in Nevada’s three major northwest trending belts: the Carlin trend, the Cortez trend and the Walker Lane trend.

Together these three trends have contributed the most to the nearly 170 million ounces of gold produced in Nevada between 1835 and 2018. While Nevada’s long gold mining history and prolific production may lead some to believe all the low-hanging fruit has been picked, there still exists plenty of upside and the potential for new discoveries in the Walker Lane trend.

Nevada: Where the world goes for gold

Nevada ranks as the world’s third top mining jurisdiction and fifth largest gold producer. The state owes its top dog status to its immense mineral wealth, well-established infrastructure and stable regulatory environment. Transparent, easy-to-navigate regulations and permitting processes, and an attractive tax regime with a low net profits tax and no income tax are all very inviting for the world’s gold miners. Global giants Newmont Mining (NYSE:NEM), Barrick Gold (TSX:ABX,NYSE:GOLD) and Kinross Gold (TSX:K,NYSE:KGC) all have producing mines in the state.

Walker Lane gold trend: Future of gold mining in Nevada

The Carlin trend may have generated the most heat in the Nevada desert over the past decades when it comes to gold, but most of the best properties are already controlled by majors Newmont, Barrick and Kinross. The high cost of exploring for the often blind and deeper targets that remain on the trend is a big turn off for junior explorers. Today’s mineral exploration companies looking for the next big play are staking claims in one of the state’s other prominent gold trends, the Walker Lane, which offers less expensive exploration with the added upside of plenty of blue sky potential in a relatively underexplored landscape with known high-grade potential.

The north-west trending Walker Lane, one of the largest structural lineaments in Nevada, has played an integral role in the history of the state beginning with the 1859 discovery of the Comstock Lode, representing 8.5 million ounces of gold and about 400 million ounces of silver. The lure of all that wealth led to the gold rush that would eventually build up Nevada’s population enough to earn statehood in 1864.

Unlike the Carlin trend, where most mines are producing ore of less than a gram of gold per tonne, Walker Lane stands out with exceptional high-grade assays. In fact, Walker Lane hosts a number of high-grade districts including Tonopah and Goldfield. Also in the region is Kinross’ Round Mountain mine, which produced approximately 437,000 ounces of gold equivalent in 2017. The giant gold mine’s current reserves plus past production total 29 million ounces of gold. Other prolific mines in the area include Mineral Ridge with 4 million ounces of gold and 6.4 million ounces of silver; and Bullfrog with 3.7 million ounces of gold and 4.6 million ounces of silver.

Promising projects in the Walker Lane gold trend

A few recent successes at Walker Lane include Northern Empire’s US$90 million acquisition by Coeur Mining (NYSE:CDE) in 2018 on the basis of the Sterling gold project, which hosts four distinct deposits including a fully-permitted, open-pit mine set to become one of the highest-grade heap leach mines in the Western United States.

Corvus Gold (TSX:KOR,OTCQX:CORVF) is focused on its near-term North Bullfrog and Mother Lode gold-silver mining projects near Beatty, Nevada. Results from exploration drilling at Mother Lode continue to show high potential for expanding the deposit and raising the possibility of identifying a much larger mineralization system. Corvus’ success has attracted C$2 million in additional funding for resource expansion programs at both Mother Lode and North Bullfrog.

Newrange Gold’s (TSXV:NRG,OTC Pink:NRGOF) Pamlico gold project represents another high-grade, district-scale opportunity on the Walker Lane trend. The project includes the historic Pamlico Mines on Pamlico Ridge, together with the Central, Sunset, Good Hope, Gold Bar and various unnamed mines and prospects. The 1,670-hectare property has been in private hands since 1896 with less than half of 1 percent of the property ever touched by a modern exploration drill. Newrange acquired Pamlico in 2016 and since then has launched an aggressive exploration campaign which has resulted in numerous drill intercepts of near surface oxide gold mineralization to 340 grams gold per metric tonne.

Newrange is advancing the project toward a resource estimate. In February 2019, the company completed preliminary metallurgical testing which achieved gold extractions as high as 97.1 percent and calculated head grades as high as 79.4 grams gold per metric tonne. These grades were substantially higher than what was originally indicated by drill sample assays, suggesting the potential for a much larger and potentially heap leachable gold system at Pamlico.

Brand Communications – Tertiary Minerals (AIM: TYM) announced that it had secured exploration rights and an option to purchase a group of claims in the Pyramid Mining District of Nevada on May 28th 2019. The project is located 25 miles northwest of Reno and is easily accessible by sealed highway. Full details here

Takeaway

The recent discoveries and continued resource expansion along Nevada’s Walker Lane gold trend is a great example of what the state’s mineral largess still has to offer for gold exploration companies and their shareholders.

Article by Melissa Pistilli, Gold Investing News

Brand CEO Alan Green talks Thomas Cook #TCG, Tertiary Minerals #TYM, Cadence Minerals #KDNC & Bidstack #BIDS on Vox Markets podcast

Brand CEO Alan Green discusses Thomas Cook #TCG, Tertiary Minerals #TYM, Cadence Minerals #KDNC & Bidstack #BIDS with Justin Waite on the Vox Markets podcast. Interview is 9 minutes 50 seconds in.

Tertiary Minerals #TYM – New Project Acquisition in the Pyramid Mining District of Nevada, USA.

Tertiary Minerals plc is pleased to advise that it has secured exploration rights and an option to purchase a group of claims in the Pyramid Mining District of Nevada. The project is located 25 miles northwest of Reno and is easily accessible by sealed highway.

Pyramid Project Highlights:

  • 20-year lease secured over group of 9 patented claims with option to purchase (subject to underlying royalties).
  • Additional 25 mining claims staked to cover additional targets along strike.
  • Located in productive Walker Lane porphyry copper/epithermal gold belt.
  • Limited historical exploration (1989-90) has defined priority epithermal vein drill target:
  • Drill hole PYR 9 – intersected visible gold and assayed 1.52m grading 17.8 g/t Au from 94.5m down hole
  • PYR 9 ended in 1.52m grading 2.6 g/t Au at 115.8m depth.
  • PYR 9 was only drill hole to effectively test a cohesive 750m long open-ended gold-mercury-arsenic soil geochemical anomaly.
  • Claims contain a number of untested epithermal veins and stockwork target zones – 43 widespread surface samples assayed up to 7.27 g/t Au and averaged 1.3 g/t Au

 

  • The State of Nevada:
  • 5th largest gold producer in world.
  • 6 M oz of gold produced in 2017.
  • 1 M oz of gold produced 1835-2018.
  • Ranked #1 most desirable mining jurisdiction in the world by The Fraser Institute.

Commenting today, Managing Director, Richard Clemmey said:  “We are delighted to have acquired an interest in the Pyramid Project.  Projects with high-grade gold results in drilling that have not already been followed up are hard to find in Nevada.  This acquisition follows the staking of the Paymaster Project earlier this year and is in line with our strategy to build a new project portfolio which will enable the Company to reduce its future geographical, technical, permitting and commodity risk exposure and provide long-term shareholder value”. 

Maps showing the location of various features described in this news release will be available on the Company’s website in due course.

 

 

Enquiries

 

Tertiary Minerals plc

Richard Clemmey, Managing Director

Patrick Cheetham, Chairman

 

 

 

+44 (0) 1625 838 679

SP Angel Corporate Finance LLP

Nominated Adviser & Broker

Lindsay Mair/Caroline Rowe

 

+44 (0) 20 3470 0470
SVS Securities plc

Joint Broker

Elliot Hance

+44 (0) 203 700 0093

Detailed Information

Location

Tertiary’s Pyramid Project is located 40km northwest of Reno in the Pyramid Mining District and is readily accessible from State Highway 445 which crosses the northwest tip of the project.

The Property

The Company has secured a 20-year lease with option to purchase a group of 9 patented mining claims. In addition, the Company has staked a further 25 unpatented mining claims adjoining the patents to cover potential extensions along strike.

Patented mining claims are considered as private property under US law and have the advantage that mineral exploration and surface disturbance below 5 acres can be carried out without permits and, in general, mine permitting is a more straightforward process.

Geology & Mineralisation

The Pyramid Mining District lies at the northwest end of the Walker Lane mineral belt a major northwest trending structural deformation zone and a highly productive gold, silver and copper producing region which is host to numerous past and currently producing multi-million ounce epithermal gold deposits as well porphyry copper and porphyry molybdenum deposits.

Within the Pyramid Mining District, the Company’s Pyramid Project is underlain by a thick sequence of mid-late Tertiary age (23 Ma old) rhyolitic tuffs interpreted by the Nevada Bureau of Mines & Geology to have formed within an east-west elongated Caldera structure named the Perry Canyon Caldera.

The gold veins at Pyramid lie within the Perry Canyon Caldera and are interpreted from historical mapping and mineral exploration to lie on the margins of a large and deeply buried porphyry system in the southeast part of the district that is currently claimed by copper producer Asarco LLC (a division part of Groupo Mexico). At the higher erosional levels currently preserved at Pyramid such porphyry systems are prospective for high-sulphidation gold deposits (in more central areas) such as those found further south in the Walker Lane at the Goldfield Mining District (4 million ounces of past production at 1oz gold/ton) and  low and intermediate-sulphidation epithermal deposits (of which there are many examples in the Walker Lane) in more peripheral areas where the Company’s claims are located. This pattern of mineralisation is similar to that of many large porphyry systems in the US, Peru and the Pacific basin countries.

In the main part of the Pyramid District precious metals were mined from three moderately to steeply dipping, northwest-striking vein systems named after the prominent mines that occur along them – Ruth, Burrus, and Bluebird. The Company’s claim interests cover the Ruth vein system and a number of parallel vein systems and zones of alteration.  In addition to abundant quartz and pyrite, vein minerals in unoxidized ore from the Ruth vein system include barite, anglesite, galena, sphalerite, acanthite, gold and cassiterite.

Past Mining & Exploration

The Pyramid Mining District was established in 1866 with only small-scale production reported. Modern exploration in the Pyramid District has focussed primarily on the search for porphyry copper mineralisation with only limited exploration having been carried out for gold.

The only documented field exploration in the area of the Company’s claims was carried out by Battle Mountain Gold Mining (“Battle Mountain”) who leased the project from the current lessors, Golden Crescent Corporation, in the period 1988-89. Battle Mountain carried out surface sampling, soil sampling and drilled 10 shallow exploration holes for a total of 1,006m of drilling to depths between 43 and 140m.

Soil sampling was conducted on a 30 x 120m grid within a confined area 600m x 600m centred on Battle Mountain’s main target area, the Ruth Mine vein system and associated vein stockwork. This identified a series of gold-in-soil anomalies and eight of their ten drill holes were designed to test a broad gold anomaly located just northwest of the Ruth Mine. These intersected areas of anomalous gold up to 1.5m grading 1.64 grammes/tonne gold (g/t Au) in hole PYR 1 from 10.7m depth.

Battle Mountain’s two other drill holes were designed to test a parallel vein west of the Ruth vein system which correlates with a separate strong gold-arsenic-mercury soil anomaly, mercury and arsenic being strongly associated with gold in epithermal gold deposits. This soil anomaly is open ended and continues strongly to the northwest and southeast boundaries of the sampled area.

Drill hole PYR 9 on this western line intersected high-grade gold mineralisation and visible gold within a sample thickness of 1.52m grading 17.8 g/t Au from 94.5m downhole. A broad zone of low-grade mineralisation continued to the end of the hole at 115.8m where the last 1.52m sample graded 2.6 g/t Au.

PYR 10 targeted the same western line soil anomaly some 150m to the southwest but was interpreted to have been drilled in the wrong direction and made no significant gold intersections.

Battle Mountain did not carry out any follow up exploration.

Proposed Mineral Exploration – Tertiary Minerals plc

The association of high-grade gold mineralisation in a previous drill hole associated with a strong and open-ended gold soil anomaly supported strongly by epithermal pathfinder elements mercury and arsenic presents a compelling drill target.

Similar narrow high-grade epithermal gold deposits in Nevada have hosted multi-million-ounce deposits such as the producing Midas Mine where the mainveins produced more than 2.2 million ounces of gold and 26.9 million ounces of silver between 1998 and 2013.

Tertiary Minerals intends to follow up Battle Mountain’s drilling and soil sampling results with an initial RC and core drilling programme as soon as possible. Core drilling is recommended as water, which can affect sample quality, was encountered in drilling both holes PYR 9 & 10.

The broader potential of the vein systems on the Project area are highlighted by the results of 43 surface chip samples taken by Battle Mountain from various outcropping veins and old mine workings within the Company’s Project area. These assayed up to 7.27 g/t Au and averaged 1.3 g/t Au.

This high prospectivity was confirmed by surface grab carried out by the Nevada Bureau of Mines & Geology during a regional assessment in 1999 when samples from the 1km long Ruth vein System averaged 1.3 g/t gold and 131 g/t silver (Garside et al 2003). The highest gold content, 8 g/t Au, was from the Surefire Mine area which has never been drill tested.

A series of maps illustrating the features described in the News Release will be uploaded to the Company’s website in due course.

Summary of Terms of Lease/Option

Advanced Annual Minimum Royalty Payments:

  • $15,000 payable on signing
  • $12,500 payable on or before 12 months from date of agreement
  • $12,500 payable on or before 18 months from date of agreement
  • $20,000 payable on or before 24 months from date of agreement
  • $20,000 payable on or before 30 months from date of agreement
  • $27,500 payable on or before 36 months from date of agreement
  • $27,500 payable on or before 42 months from date of agreement
  • $35,000 payable every 6 months from 48 months after the date of the agreement

Option to buy property (required to purchase property prior to commencement of mining):

  • $1,500,000 – At any time before the end of Lease Year 5
  • $2,000,000 – At any time after Lease Year 5 and before the end of Lease Year 10
  • $2,500,000 – At any time after Lease Year 10 and before the end of Lease Year 20

Royalty Payable:

  • 2% Net Smelter Return
  • Where underlying pre-existing Royalties exist2on a particular claim then the 2% Royalty payment on that claim will be reduced by a variable amount to minimise the impost of multiple royalty payments
  • Advanced Royalty Payments credited against royalty payment entitlements
  • Royalty Area of Interest: 0.5 miles
  • Right to buy one half of royalty for $1,000,000 at any time before start of mine and/or plant construction
  • Advanced royalty payments not credited against royalty buyout
  • Royalty retained after property buyout (subject to half purchase right)

References:

Nevada Bureau of Mines and Geology Map 146. 2003. Geology of the Fraser Flat Quadrangle and the west half of the Moses Rock Quadrangle, Washoe County, Nevada. Larry J. Garside, Stephen B. Castor, Craig M. dePolo, and David A. Davis, with a section on aeromagnetic lineament analysis, Warm Springs Valley, by Michael C. Widmer.

Notes:

  1. The information in this release has been compiled and reviewed by Mr. Patrick Cheetham (MIMMM, MAusIMM) who is a qualified person for the purposes of the AIM Note for Mining and Oil & Gas Companies. Mr. Cheetham is a Member of the Institute of Materials, Minerals & Mining and also a member of the Australasian Institute of Mining & Metallurgy.
  2. Three of the nine claims subject to the lease agreement are known to be subject to a third party underlying 4% gross proceeds royalty.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Notes to Editors

Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a multi-commodity project portfolio.

CAUTIONARY NOTICE

The news release may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and save as required by the AIM Rules for Companies or by law, the Company does not accept any obligation to disseminate any updates or revisions to such forward-looking statements.

Tertiary Minerals (TYM) – Total Voting Rights

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector announces that in accordance with Financial Conduct Authority’s Disclosure and Transparency Rules (“DTRs”), the total issued share capital of the Company with voting rights is 443,075,665 ordinary shares.

The above figure of 443,075,665 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the DTRs.

 

Enquiries

Tertiary Minerals plc

Patrick Cheetham, Executive Chairman 

Richard Clemmey, Managing Director

 

 

 +44 (0)1625 838 679           

 

SP Angel Corporate Finance LLP

Nominated Adviser & Joint Broker

Lindsay Mair/Caroline Rowe

 

 

+44 (0) 20 3470 0470

SVS Securities plc

Joint Broker

Elliot Hance

 

 

+44 (0)203 700 0093

 Notes to Editors

Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada USA (MB Project).

Brand CEO Alan Green talks #CORA, #CER, #GKP, EOG & #TYM on the Vox Markets podcast

Alan Green CEO of Brand Communications discusses Cora Gold #CORA, Cerillion #CER, Gulf Keystone Petroleum #GKP, Europa Oil & Gas #EOG & Tertiary Minerals #TYM with Justin Waite. Interview starts at 13 minutes 16 seconds.

Tertiary Minerals #TYM – Director Dealing, Issue of Equity, Total Voting Rights and Warrants

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector announces that a non-executive director of the Company is receiving settlement of a portion of his outstanding fees in ordinary shares of 0.01 pence each in the Company (“Ordinary Shares”) calculated with reference to the closing mid-market price on the trading day prior to the issue of the Ordinary Shares.

On 21 February 2019, the Company resolved to issue a total of 418,578 Ordinary Shares to Donald McAlister for the six-month fee period ended 31 December 2018.

These Ordinary Shares were issued at a price of 0.325 pence per share, being the closing mid-market price on 20 February 2019. 

The following table shows the number of Ordinary Shares issued to Donald McAlister together with his total holdings following the issue of the Ordinary Shares: 

Director

Number of Ordinary Shares issued

Price of Ordinary Shares issued

Interest in total number of Ordinary Shares following Admission

% of Company’s issued share capital following Admission

Donald McAlister

418,578

0.325 pence

1,295,343

0.292%

Application has been made to the London Stock Exchange for 418,578 Ordinary Shares to be admitted to trading on AIM (“Admission”), and it is expected that Admission will occur on or around 28 February 2019. 

Total Voting Rights

In accordance with Financial Conduct Authority’s Disclosure and Transparency Rules (“DTRs”), following the issue and Admission, the total issued share capital of the Company with voting rights will be 443,075,665 ordinary shares.

The above figure of 443,075,665 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the DTRs.

Grant of Warrants

As part of the remuneration of employees and directors the Company also announces that on 21 February 2019 the Board of the Company granted a total of 8.5 million warrants to subscribe for Ordinary Shares as follows:

Grantee

No. of Warrants

Warrant exercise price (pence per share)

Employees (4)

 

(Total of) 1,600,000

0.35

Company Secretary

Mr Colin Fitch

400,000

0.35

Managing Director

Mr Richard Clemmey

3,000,000

0.35

Non-Executive Director

Mr Donald McAlister

1,500,000

0.50

Executive Chairman

Mr Patrick Cheetham

2,000,000

0.50

Each warrant entitles the holder to subscribe for one ordinary share in the Company at their respective warrant exercise prices at any time within 4 years from 21 February 2020. 

Market Abuse Regulation

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the issue of ordinary shares to a director.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM.

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Donald McAlister (1stsubmission)

2.     

Reason for the notification

a)

Position/status:

Non-Executive Director

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Tertiary Minerals plc

b)

LEI:

213800OT9C6DQN9VO543

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Ordinary shares of 0.01p each

 
GB0008854563

b)

Nature of the transaction:

Issue of new ordinary shares in lieu of fees

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

0.325 pence

418,578

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

0.325 pence

418,578

 

e)

Date of the transaction:

21 February 2019

14:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Donald McAlister (2nd submission)

2.     

Reason for the notification

a)

Position/status:

Non-Executive Director

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Tertiary Minerals plc

b)

LEI:

213800OT9C6DQN9VO543

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.01p each

 
GB0008854563 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise price of 0.5 pence

1,500,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

0.5 pence

1,500,000 warrants

 

e)

Date of the transaction:

21 February 2019

16:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name: 

Judith Hayes

2.     

Reason for the notification

a)

Position/status:

Administration Manager

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Tertiary Minerals plc

b)

LEI:  

213800OT9C6DQN9VO543

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.01p each

 GB0008854563 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.35 pence

400,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.35 pence

400,000 warrants

 

e)

Date of the transaction:

21 February 2019

16:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name: 

Celia Jill Barnard-Blom

2.     

Reason for the notification

a)

Position/status:

Company Accountant

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Tertiary Minerals plc

b)

LEI:  

213800OT9C6DQN9VO543

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.01p each

 GB0008854563 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.35 pence

400,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.35 pence

400,000 warrants

 

e)

Date of the transaction:

21 February 2019

16:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name: 

Jaelithe Talboom

2.     

Reason for the notification

a)

Position/status:

Business Assistant

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Tertiary Minerals plc

b)

LEI:  

213800OT9C6DQN9VO543

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.01p each

 GB0008854563 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.35 pence

400,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.35 pence

400,000 warrants

 

e)

Date of the transaction:

21 February 2019

16:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name: 

Joel Cheetham

2.     

Reason for the notification

a)

Position/status:

Data Analyst

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Tertiary Minerals plc

b)

LEI:  

213800OT9C6DQN9VO543

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.01p each

 GB0008854563 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.35 pence

400,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.35 pence

400,000 warrants

 

e)

Date of the transaction:

21 February 2019

16:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name: 

Colin Fitch

2.     

Reason for the notification

a)

Position/status:

Company Secretary

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Tertiary Minerals plc

b)

LEI:  

213800OT9C6DQN9VO543

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.01p each

 GB0008854563 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.35 pence

400,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.35 pence

400,000 warrants

 

e)

Date of the transaction:

21 February 2019

16:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name:

Richard Clemmey

2.     

Reason for the notification

a)

Position/status:

Managing Director

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Tertiary Minerals plc

b)

LEI:

213800OT9C6DQN9VO543

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.01p each

 
GB0008854563 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise price of 0.35 pence

3,000,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.35 pence

3,000,000 warrants

 

e)

Date of the transaction:

21 February 2019

16:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

1.     

Details of the person discharging managerial responsibilities/person closely associated

a)

Name: 

Patrick Cheetham

2.     

Reason for the notification

a)

Position/status:

Executive Chairman

b)

Initial notification/Amendment:

Initial notification

3.     

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name:

Tertiary Minerals plc

b)

LEI:  

213800OT9C6DQN9VO543

4.     

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument:

Identification code:

Warrants, each warrant to subscribe for one ordinary share of 0.01p each

 GB0008854563 (Ordinary Shares)

b)

Nature of the transaction:

Grant of warrants to subscribe for new ordinary shares

c)

Price(s) and volume(s):

 

Price(s)

Volume(s)

Exercise Price of 0.5 pence

2,000,000 warrants

 

d)

Aggregated information:

Aggregated volume:

Price:

Single transaction as in 4 c) above

Price(s)

Volume(s)

Exercise price of 0.5 pence

2,000,000 warrants

 

e)

Date of the transaction:

21 February 2019

16:00 UTC

f)

Place of the transaction:

Outside a trading venue

 

 

Enquiries

 

Tertiary Minerals plc

Patrick Cheetham, Executive Chairman

Richard Clemmey, Managing Director

 

 

 

 

+44 (0)1625 838 679           

SP Angel Corporate Finance LLP

Nominated Adviser & Joint Broker

Ewan Leggat /Lindsay Mair

+44 (0) 20 3470 0470

SVS Securities plc

Joint Broker

Elliot Hance

+44 (0)203 700 0093

 

Notes to Editors

Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada USA (MB Project).

Tertiary Minerals plc (TYM) Result of AGM

Tertiary Minerals plc, the AIM traded company building a strategic position in the fluorspar sector, held its Annual General Meeting (“AGM”) today and is pleased to announce that all resolutions were duly passed.

The following proxy votes were received in respect of the resolutions.

 

1. Ordinary Resolution:  To receive the Accounts and Reports of the Directors and of the Auditors

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

15,611,285

88.64

0

0.00

2,000,000

11.36

696,178

2. Ordinary Resolution:  To re-elect Mr P L Cheetham as a director

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

16,247,063

88.75

60,000

0.33

2,000,000

10.92

400

3. Ordinary Resolution:  To re-elect Mr R H Clemmey as a director

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

16,247,063

88.75

60,000

0.33

2,000,000

10.92

400

4. Ordinary Resolution:  To re-elect Mr D A R McAlister as a director

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

16,247,063

88.75

60,000

0.33

2,000,000

10.92

400

5. Ordinary Resolution:  To reappoint Crowe U.K. LLP as Auditor of the Company

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

14,771,131

87.76

60,000

0.36

2,000,000

11.88

1,476,332

6. Ordinary Resolution:  To authorise the directors to allot shares

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

15,287,925

87.23

239,245

1.36

2,000,000

11.41

780,293

7. Special Resolution:  To approve dis-application of pre-emption rights

Votes For

% of votes cast

Against

% of votes cast

At holders’ discretion

% of votes cast

No. Withheld

14,744,785

81.01

1,456,071

8.00

2,000,000

10.99

106,607

 

 

Further information:

 

Enquiries

 

Tertiary Minerals plc

Patrick Cheetham, Executive Chairman 

Richard Clemmey, Managing Director

 

 

 

+44 (0)1625 838 679             

SP Angel Corporate Finance LLP

Nominated Adviser & Broker

Lindsay Mair/Caroline Rowe

 

 

+44 (0)203 470 0470

 

 

 

 

Notes to Editors

 

Tertiary Minerals plc (ticker symbol ‘TYM’) is an AIM-traded mineral exploration and development company building a significant strategic position in the fluorspar sector. Fluorspar is an essential raw material in the chemical, steel and aluminium industries. Tertiary controls two significant Scandinavian projects (Storuman in Sweden and Lassedalen in Norway) and a large deposit of strategic significance in Nevada USA (MB Project).

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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